Loan fraud: ED attaches assets worth Rs 112 cr

Launching a crackdown on those allegedly involved in large bank loan frauds, the Enforcement Directorate (ED) on Wednesday issued orders for attachment of assets worth Rs 112 crore of a Noida-based media firm in connection with its money-laundering probe against it.

The firm, Ms Century Communication Ltd, and its promoters had launched India’s first all Bhojpuri news channel in 2008. 

As per the provisional attachment order issued by the agency under the criminal provisions of the Prevention of Money Laundering Act (PMLA), the firm’s plot worth over Rs 52 crore in Film City area of Sector-16A Noida, multiple flats in a business park in Mumbai, two flats in Mumbai’s Khar area, some land assets in Tamil Nadu and a large property in Maharani Bagh area of South Delhi in the name of the main promoter PK Tewari and his kin have been attached.